Ichor (NASDAQ:ICHR) Shares Gap Up – Still a Buy?

Ichor Holdings, Ltd. (NASDAQ:ICHR) gapped up before the market opened on Thursday . The stock had previously closed at $30.62, but opened at $31.70. Ichor shares last traded at $31.40, with a volume of 21,484 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICHR. B. Riley restated a “buy” rating and set a $38.00 price target (up previously from $36.00) on shares of Ichor in a report on Tuesday, November 5th. DA Davidson initiated coverage on shares of Ichor in a research note on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price on the stock. Needham & Company LLC cut shares of Ichor from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Oppenheimer initiated coverage on shares of Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price objective on the stock. Finally, TD Cowen decreased their price objective on shares of Ichor from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.29.

Ichor Stock Performance

The company has a market capitalization of $1.04 billion, a PE ratio of -33.16 and a beta of 1.92. The firm’s 50-day simple moving average is $32.18 and its 200-day simple moving average is $31.69. The company has a current ratio of 3.64, a quick ratio of 1.69 and a debt-to-equity ratio of 0.18.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $211.14 million during the quarter, compared to analyst estimates of $203.24 million. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. Ichor’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, research analysts predict that Ichor Holdings, Ltd. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Ichor

Several institutional investors have recently made changes to their positions in ICHR. JPMorgan Chase & Co. grew its holdings in Ichor by 157.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock worth $10,823,000 after acquiring an additional 208,328 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Ichor in the 2nd quarter worth approximately $6,382,000. Hood River Capital Management LLC boosted its stake in shares of Ichor by 15.8% during the second quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock valued at $42,722,000 after purchasing an additional 150,933 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Ichor by 322.6% during the second quarter. Renaissance Technologies LLC now owns 164,400 shares of the technology company’s stock valued at $6,338,000 after buying an additional 125,500 shares during the period. Finally, Royce & Associates LP raised its stake in Ichor by 20.8% in the third quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock worth $22,870,000 after buying an additional 123,585 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.